L-3 to Buy Back Shares

This video talks through the L3 (LLL) stock buyback.  They are buying 10 billion in stock back over a 2 year time frame.  He believes that weapons spending may move lower but L3 should be in a good position.  L3 is cheap relative to their peers; they have a low p/e ratio relative to their peers and they have good cash flow yield which provides it a safe haven status. 

Additionally, they have very low pension benefit obligations, near 20%, which is substantially lower than their peers.  He believes that their organic growth in 2009 should increase as they are getting strong support from the government.